Oceanview Re appoints new chief actuary

Life insurance liability reinsurer Oceanview Re has appointed Ahwaz Chagani as vice president and chief actuary. Based in Bermuda, he’ll lead both the business’s actuarial organisation and all aspects of its risk management function.

Chagani joins from the Argus Group, where he was instrumental in designing and rolling out its new risk management framework. In a 15-year career, he has also served as head of corporate actuarial and approved actuary for AIA Reinsurance and a consulting actuary with the Dion Strategic Consulting Group. Before that, he held various actuarial roles at Canadian multinational insurer Manulife Financial.

Established along with its affiliate Oceanview Life and Annuity Company in 2019,  Oceanview Re provides customised reinsurance for fixed annuities and other “asset intensive life insurance liabilities”.

Last December, it announced it had transacted with an A++ rated US life insurance company to assume approximately $1 billion of reserves from legacy fixed annuity business.